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Nov 29, 2012
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if they don't see anything substantive, then there will be concerns about cuts, rate cuts in the credit standing of the united states. that's what they're going to be worried about. >> that even goes to obama's terminology yesterday. he talked about presenting a framework by chris mall. framework, all that means is, listen, we've got to plan, we can modify it, tweak it -- the market will not want that. >> the market will move very quickly if they perceive it is not substance. remember it's two parts -- soon and substance. >> thank you very much. >>> to the nasdaq right now, bertha coombs is there following the big movers. >> over the last couple of days the nasdaq has managed to move into positive territory for the month of november, back above 3,000. today one of the biggest movers is research in motion getting an upgrade at goldman sachs. one of the firms that sees them perhaps getting some traction with the blackberry 10 rollout in 2013. apple up today as well, up more than 1%. look what's happened this month. nasdaq composite has moved up without the help of apple. apple on track fo
if they don't see anything substantive, then there will be concerns about cuts, rate cuts in the credit standing of the united states. that's what they're going to be worried about. >> that even goes to obama's terminology yesterday. he talked about presenting a framework by chris mall. framework, all that means is, listen, we've got to plan, we can modify it, tweak it -- the market will not want that. >> the market will move very quickly if they perceive it is not substance....
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Nov 30, 2012
11/12
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seth, president obama's plan is advocating tax increases but almost no net spending cuts. how do you resolve this crisis without cutting spending significantly? >> well, i don't think that's true at all. there's substantial spending cuts. i mean, first of all, we've already cut spending by $1.5 trillion as part of the first part of this deficit reduction framework. also in his offer is another $400 billion in cuts, targeted cuts to health care programs. i really think that we shouldn't, like you said, take the knife to fundamental programs like medicare and social security. the president's plan is the plan he presented to the american people and won the election on. certainly, the plans they would cut or fundamentally restructure medicare, those proposals -- >> i don't think that's what we're talking about, seth. >> does that do anything to the debt? >> that's a great question, maria. that's the biggest challenge with this proposal that the president put out. he's actually talking about new spending. additional payroll benefits, additional unemployment benefits. his very p
seth, president obama's plan is advocating tax increases but almost no net spending cuts. how do you resolve this crisis without cutting spending significantly? >> well, i don't think that's true at all. there's substantial spending cuts. i mean, first of all, we've already cut spending by $1.5 trillion as part of the first part of this deficit reduction framework. also in his offer is another $400 billion in cuts, targeted cuts to health care programs. i really think that we shouldn't,...
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Dec 4, 2012
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will ask for is tax cuts and not an argument you are raising taxes on someone. for all those reasons, the democrats have a lot of leverage in january but that does not mean the democrats should wait till january, what happens after december 31st is everybody can lose. the kind of pressure we have psychologically and politically right now to get a deal done before we hit 2013, that kind of pressure and deadline pressure and momentum you're not going to have after you're over the fiscal cliff. so every day that goes by after january 1st isn't going to look like that big of a deal and essentially, time will run out for both parties, you will have a lot of problems in 2013, they will take the lion's share away from fiscal dealmaking, senate confirmation, have the debt ceiling, the long-delayed nuclear negotiableses with iran, going to have posturing for the 2014 campaigns. all of those things are going to suck out the moment up that we have right now. so, yes, democrats are not as bad off as the republicans, but that doesn't mean they should be waiting either. >> i
will ask for is tax cuts and not an argument you are raising taxes on someone. for all those reasons, the democrats have a lot of leverage in january but that does not mean the democrats should wait till january, what happens after december 31st is everybody can lose. the kind of pressure we have psychologically and politically right now to get a deal done before we hit 2013, that kind of pressure and deadline pressure and momentum you're not going to have after you're over the fiscal cliff. so...
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Nov 30, 2012
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and the extended unemployment benefits, too. >> i don't like the way obama started here at all. i mean, there were two ways to start the negotiations. one was did you ever see into guys like haggle over something and one guy says a dollar and the other guy says 1,000. and that's where they seem to have started. he could have started at 500 and then the republicans could have said maybe 100. but he started this thing, he put his foot forward like you know what, i'm willing to play this to the bitter end. this wasn't a thing that said let's get it done quickly. he sent geithner over. he used geithner's political capital which i think was a mistake for geithner. >> he's leaving. >> but it's like using -- >> going back to goldman. >> where he started. >> where he cut his teeth. >> like using a pitcher because you don't care about his arm at the end of the season. so you threw him out there and you send him over with -- and you also let the republicans characterize the plan. which from a pr standpoint i don't think was that smart. so i think they blew that one. but ultimately it stri
and the extended unemployment benefits, too. >> i don't like the way obama started here at all. i mean, there were two ways to start the negotiations. one was did you ever see into guys like haggle over something and one guy says a dollar and the other guy says 1,000. and that's where they seem to have started. he could have started at 500 and then the republicans could have said maybe 100. but he started this thing, he put his foot forward like you know what, i'm willing to play this to...
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Dec 5, 2012
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instead of cutting spending. his plan will hurt nearly 1 million small businesses around our country. that will affect hundreds of thousands of jobs. >> reporter: and guys, there are republicans here on capitol hill who are urging the speaker to cut a deal with the president. i talked to one of the earliest republicans to say, you know what, let's take a the president up on his offer to extend the bush tax cuts for everybody under $250,000 and at least take that uncertainty off the table and then continue to negotiate the rest to have later. some of the republicans are now coalessing around that view that they should give into what the president is suggesting, at least temporarily, and continue to negotiate on the rest because there's a lot of political pain here for republicans if we do get to the point where we go over the cliff because of those higher tax rate pateryers, guys. >> all right, eamon. thank you. >> the talk continues, but none of it face to face. be sure to catch a live interview with one of the k
instead of cutting spending. his plan will hurt nearly 1 million small businesses around our country. that will affect hundreds of thousands of jobs. >> reporter: and guys, there are republicans here on capitol hill who are urging the speaker to cut a deal with the president. i talked to one of the earliest republicans to say, you know what, let's take a the president up on his offer to extend the bush tax cuts for everybody under $250,000 and at least take that uncertainty off the table...
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Dec 4, 2012
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back their full-time workers less than 30 hours week so they don't have to pay for obama carism would say that is very, very interesting. watch for other companies to do it. otherwise the cost goes up for these food restaurant chains. >> a pop for puppies. many college students are looking for twice ease stress during final exams. one canadian university has gone to the dogs. starting today, dalhousie university in halifax, nova scotia, is throwing students a bone by providing a puppy room where students can destress among four-legged friends. although the idea may seem barking mad, organizers promise that simply pekt the dogs will help relieve anxiety. >> we need one for the "fast money" guys, petting, with dogs. >> move on. >> no comment. >> let's go somewhere else. >> seem marks help us. >> i'm here, guys have no fear. here's what's coming up next on the cnbc "fast money" show at 5 p.m. eastern. she was the most closely watched analyst at the height of the 1990s tech boom, today, mary meeker's tech predictions moving some of the biggest names. meekers a head lines, the smartphone r
back their full-time workers less than 30 hours week so they don't have to pay for obama carism would say that is very, very interesting. watch for other companies to do it. otherwise the cost goes up for these food restaurant chains. >> a pop for puppies. many college students are looking for twice ease stress during final exams. one canadian university has gone to the dogs. starting today, dalhousie university in halifax, nova scotia, is throwing students a bone by providing a puppy...
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Dec 7, 2012
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he sat down with a falls church family to talk about how ending the bush era tax cuts would affect them. if they expire the end of the month, an average family of four would have to pay about $2200 in extra taxes. the president says he is in favor of extending tax breaks for people making $250,000 a year or less but not for the top 2%. >>> down on the ellipse, there was a special ceremony to light the national crime tree. >> three, two, one! >> an it was quite the turnout for the annual lighting of the tree. the president addressed the crowd and during his speech also spoke about helping the victims of superstorm sandy. m >>> we are also following developing news overseas. up next, egyptian president mohammed morsi tries to quiet protesters but is he will to back down from his power grab. >>> a major ruling in michigan that has some workers upset and could hurt the auto industry. more on that when we return. >>> michigan is now one step closer to becoming a right to work state. yesterday, the state house and senate approved bills limiting ups from collecting fees from nonunion worke
he sat down with a falls church family to talk about how ending the bush era tax cuts would affect them. if they expire the end of the month, an average family of four would have to pay about $2200 in extra taxes. the president says he is in favor of extending tax breaks for people making $250,000 a year or less but not for the top 2%. >>> down on the ellipse, there was a special ceremony to light the national crime tree. >> three, two, one! >> an it was quite the turnout...
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Nov 29, 2012
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obama first time around caved and his base never for gave him for extending the bush tax cuts when he said he wouldn't. >> maybe the republicans should be reconsidering the tough line that they drew back in july of 2011 because this is a situation where i think it was kennedy who always said don't let the perfect be the enemy of the good. they were in a much better bargaining position then than they are how. that's when 3 to 1 was still on the table. >> you can't get through it house. >> yes, but the conversation has changed. and you hear republicans who have even changed. >> one guy, cole. ron johnson will tell you it has not moved. >> there are a lot of republicans signaling, yes, they think the highest income rate will go up. >> but if you can't get through the house -- a lot of people now that think and i heard it the other night that if you give the deductions now, that they'll just do rates next year. so you might as well give rates now. >> although maybe buffett was right when he talked to us yesterday and said you can have some sort of agreement that looks reasonable for the m
obama first time around caved and his base never for gave him for extending the bush tax cuts when he said he wouldn't. >> maybe the republicans should be reconsidering the tough line that they drew back in july of 2011 because this is a situation where i think it was kennedy who always said don't let the perfect be the enemy of the good. they were in a much better bargaining position then than they are how. that's when 3 to 1 was still on the table. >> you can't get through it...
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earlier in the day president obama tweeted about this himself. he used the white house twitter account and said it's good to see a lot of folks on twitter speaking about extending the middle class tax cuts and that he'd be answering questions on the cliff at 2:00 p.m. of course we'll be monitoring that very closely and bring you the best interactions that we find. if you want to send a question to the president, all you have to do is use #my2k. >> you can do that but certainly don't switch off cnbc at the same time. >> multi-task, folks. >>> on deck -- why the fiscal escartment could put us at risk. >>> and then m.i.a., millionaires. we lay out why the cliff could have the millionaires vanishing into just thin air. >>> welcome back. i'm bertha coombs. taking a look here, dow chemical, its ceo andrew liver speaking at the company's investor forum today saying that the company is taking "swift and decisive actions to protect its growth plan and to drive near-term value." specifically, they are cutting a number of things. they've accelerated interve
earlier in the day president obama tweeted about this himself. he used the white house twitter account and said it's good to see a lot of folks on twitter speaking about extending the middle class tax cuts and that he'd be answering questions on the cliff at 2:00 p.m. of course we'll be monitoring that very closely and bring you the best interactions that we find. if you want to send a question to the president, all you have to do is use #my2k. >> you can do that but certainly don't...
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obama put on the table two trillion in spending cuts and we'llind another trillion in revenue increases and every economist is unanimous. that the way of increasing revenue is going after the top two percent. >> well, i don't know. wayne, i heard a lot of ideas about sphending coming out. >> julian, you need to run for public office. you are the perfect kind of guy that thinks of million of dollars is a rounding error. that's what congress thinks. you can run and so you can steal from the public like they do. >> it is it wayne let me respond. it is it a rhetorical game you played there. but in reality if you have the biggest largest lottery that the world has known, you will not make a slightest dent in the debt. >> who cares. when you get out of the chair and walk to the door you have to start somewhere. every bit counts. i took three trillion steps that you didn't take to identify how to deal with the debt problem. >> that's not the reason. i can ge you reasons to deal with that. yes, raise taxes and you can cut spinding aomatically. if i were president and i said to everybody. take a
obama put on the table two trillion in spending cuts and we'llind another trillion in revenue increases and every economist is unanimous. that the way of increasing revenue is going after the top two percent. >> well, i don't know. wayne, i heard a lot of ideas about sphending coming out. >> julian, you need to run for public office. you are the perfect kind of guy that thinks of million of dollars is a rounding error. that's what congress thinks. you can run and so you can steal...
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i am sorry what was obama trying to do with obama care . why was not not addressed and why is that now on the table. you have to realize it is not a administration that wants to do cuts. >> easy answer to that. if you look at original drafts of what the president was talking about when he started out. he wanted address medicare. >> no. sure he wanted toddress it . we can address that iue f another hour but we are runnin out of the time. did you hear what may be on the table to solve our debt mess? raising the gas tax on everybody. will that make a bigger will that make a bigger financial mess for with the sparkash card from capital one, sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purche, everday! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great sinesses deserve great rewards! [ male announcer ] the spark business card from capital one. choose unlimited rewards with
i am sorry what was obama trying to do with obama care . why was not not addressed and why is that now on the table. you have to realize it is not a administration that wants to do cuts. >> easy answer to that. if you look at original drafts of what the president was talking about when he started out. he wanted address medicare. >> no. sure he wanted toddress it . we can address that iue f another hour but we are runnin out of the time. did you hear what may be on the table to solve...
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more cuts could be coming. dennis: friendly fire for housepainter. he is caving in to the president. we will talk to one of them straight ahead. cheryl: order a new tv on your phone, have it delivered that day. ebay launching a same-day delivery business. dennis: fedex, eat your heart out. nicole petallides at the new york stock exchange. the dow up despite the fiscal cliff phobia. nicole: we have been selling off for a couple of days. the dow down 75 points. we had a little bit of room to snap back and move to the upside. the vix fear index has moved lower at the moment. moving things along as well. watching the banking index and the drug index with a perilous. the nasdaq composite still cannot squeeze out a gain. the dow has significantly improved up three quarters of 1%. i wanted to take a look at one of the bank stocks, citigroup streamlining and cutting out the excess under their new ceo. what we are seeing is they will cut about 4% of their workforce, 11,000 workers worldwide. that will bring in savings about $1.1 billion. this is streamlining
more cuts could be coming. dennis: friendly fire for housepainter. he is caving in to the president. we will talk to one of them straight ahead. cheryl: order a new tv on your phone, have it delivered that day. ebay launching a same-day delivery business. dennis: fedex, eat your heart out. nicole petallides at the new york stock exchange. the dow up despite the fiscal cliff phobia. nicole: we have been selling off for a couple of days. the dow down 75 points. we had a little bit of room to snap...
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Nov 30, 2012
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. >> this is why, although obama's proposal did not talk about spending cuts and i wish he had, he talked about stimulus and infrastructure spending as part of his proposal. they will spend some on infrastructure. they are worried about the economy. very anemic in the first half of next year. connell: what do you make of it? >> we do not have a choice. we have to raise revenue. we have to cut spending. we have to get on a more solid path. there will be a cost to it. the other problem is, you know, to your point, when you talk about, let's say you use the word tax reform, what does that mean, they will deal with either the mortgage deduction, the charitable deduction or the state tax deduction. think about how that affects the behavior of individuals. that is all coming down the road. that will come and it talked about exterior. it really affects people's behavior. connell: robert, always great stuff. thank you. we do have a little piece of breaking news that wave want to pass along. lottery officials are telling us that the mechanic and his wife are the missouri winters of half of that ja
. >> this is why, although obama's proposal did not talk about spending cuts and i wish he had, he talked about stimulus and infrastructure spending as part of his proposal. they will spend some on infrastructure. they are worried about the economy. very anemic in the first half of next year. connell: what do you make of it? >> we do not have a choice. we have to raise revenue. we have to cut spending. we have to get on a more solid path. there will be a cost to it. the other...
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for the last three years for cutting medicare at $716 billion. he has already showed he is willing to take a big bite out of a major entitlement program. stuart: hold on a second. i do remember it. that is not reform. that is not reforming the structure of entitlement programs. that is the issue. >> i think the focus has been on medicare. the attention now needs to be on medicare inside the aca. there were large structural reforms in the way healthcare was playing out. in fact, last year, we had a slower rate of growth and health care spending that we have had in quite a time. whether president has proposed is part of the current negotiations is another $300 billion cut in medicare. stuart: that is a cut. you do understand, that what we really -- >> stuart, that just is not true. we have not seen them play out. certainly, we will have to be coming back every year. usually, through a committee process where people vote at the end of the day. the republicans decided to take another course around the debt ceiling. i do not agree with you. i think to
for the last three years for cutting medicare at $716 billion. he has already showed he is willing to take a big bite out of a major entitlement program. stuart: hold on a second. i do remember it. that is not reform. that is not reforming the structure of entitlement programs. that is the issue. >> i think the focus has been on medicare. the attention now needs to be on medicare inside the aca. there were large structural reforms in the way healthcare was playing out. in fact, last year,...
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a survey of 800 obama voters split right down the metal on the political ppll on how they want obama to cut the deficit. 41 percent responded in favor of spending cuts. 41 percent of respondents saying they favor tax increases. the white house says it will offer a counterproposal to house speaker proposal. saying that unless he accepts tax increases on the rich the president is willing to go over the cliff. let's get straight to the politics of these developments and the rhetoric and possible economic impact of failure to resolve the issues. joining as, former special assistant to president george w. bush, a veteran political consultants and republican pollster. let's start, if i may, with you. do you think both sides right now are seriously ready to go over the cliff? >> i think the president is very ready because they are reading into this election last month a mandate that i simply don't see. the president got 15 million americans to vote against him which fail to produce any type of meaningful budget in his democratic controlled senate. we are at the disco club because of the pre
a survey of 800 obama voters split right down the metal on the political ppll on how they want obama to cut the deficit. 41 percent responded in favor of spending cuts. 41 percent of respondents saying they favor tax increases. the white house says it will offer a counterproposal to house speaker proposal. saying that unless he accepts tax increases on the rich the president is willing to go over the cliff. let's get straight to the politics of these developments and the rhetoric and possible...
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when we go over the cliff as matter of law the obama tax cuts expire. we have sequestration where these drastic cuts take place but the president politically knows that even if it a deal is made in january, february on spending they can be made retroactively. so the president believes he is in a much better position on spending than he is today in making a deal because any deal that they make will be retroactive. adam: let me flip your logic. do you think politically i don't think it would be good economically, politically good for the republicans to call the bluff, go over the cliff. yes, there is short-term pain come 2014, midterm's election the president's economy. the president gets responsibility for what happens after the cliff drops. wouldn't that be the political move to make if you're john boehner? >> we really have no choice. president is in the driver's seat and boehner is hostage in the back seat with the president with his foot on the gas. nothing the speaker can do, other than perhaps, i think it would be politically wise for the house to
when we go over the cliff as matter of law the obama tax cuts expire. we have sequestration where these drastic cuts take place but the president politically knows that even if it a deal is made in january, february on spending they can be made retroactively. so the president believes he is in a much better position on spending than he is today in making a deal because any deal that they make will be retroactive. adam: let me flip your logic. do you think politically i don't think it would be...
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i think president obama is less frigened of going over the cliff tha the republicans are, that is why the republicans are making all concessioos. i tell you, if we go over the cliff, here is what he wouldo, sa okay, now, everyone's tax have been raised, it happened because the republicans wanted stand by their fat cat friends, while i tell you, what their taxes will stay where they are increased and i have a tax cut f 98% of aricans that will send up to the hill a seen as congress gets back here, we restore the bush tax cuts for middle class and workin work cst the rich are paying their fair share, and i think that country will applaud. neil: you think he comes out a hero, that is why republicans fear if that scenario they lose. >> they are i a lose-se situatio onl thing obama has to fear is, if he plays it hardball, and takes us over tha@ cliff,n play the savior beyond the cliff. its possible that we could have a real downturn, a real recessn. and a real problem in the economy,nhich case, barac obama will not escape the historic reputation of the democrats' herbert hoover. neil no pr
i think president obama is less frigened of going over the cliff tha the republicans are, that is why the republicans are making all concessioos. i tell you, if we go over the cliff, here is what he wouldo, sa okay, now, everyone's tax have been raised, it happened because the republicans wanted stand by their fat cat friends, while i tell you, what their taxes will stay where they are increased and i have a tax cut f 98% of aricans that will send up to the hill a seen as congress gets back...
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part of this conversation. >> obama doesn't listen to him at this point. do you see how this is on? it's as tenuous as the talks themselves. leechb one way or the other, it falls off. anything the slightest movement respect, and the cliff -- we're not rising above. you're getting a hum on my microphone? i'm fine. the audio guy. interrupts the show to tell me there is a hum and there isn't a hum. >> i appreciate that. also senator harry reid says that republicans need to, quote, get serious. both sides are saying this, both sides -- a lot of kabuke theater. >> everyone got disgusted. nobody needs that image. >> the fiscal cliff will certainly be one of the main topics of discussion when president obama meets with some of the nation's governors today. actually i think they're meeting with vice president biden. then governors will be meeting with some of the congressional leadership, as well. but you guys are watching this, we know this is drama and theater. do you think a deal gets struck at the end of the day? >> i do. i have to say, i still think we'll get
part of this conversation. >> obama doesn't listen to him at this point. do you see how this is on? it's as tenuous as the talks themselves. leechb one way or the other, it falls off. anything the slightest movement respect, and the cliff -- we're not rising above. you're getting a hum on my microphone? i'm fine. the audio guy. interrupts the show to tell me there is a hum and there isn't a hum. >> i appreciate that. also senator harry reid says that republicans need to, quote, get...
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the voluntary program is part of an effort to cut costs by 1.7 billion dollars per year. fedex stock, no change, 88 bucks a share. now joining the company from chicago is our next guest. the headline for the day is president obama has drawn a line in the sand, he says there isn't a deal on the fiscal cliff unless you raise tax rates on the rich, very important, tax rates on the rich. what do you make of that? >> well, first of all, in some ways, you have to say that the big spending, big government liberals are winning this debate, because they have reframed the entire discussion about revenues. listen, washington has a spending problem, and as long as we kind of misdirect this discussion and we only talk about taxes, then we never discuss any meaningful reform in entitlements. we never discuss spending. so from this standpoint, the left is absolutely winning this argument, because that's what you and i are talking about right now, tax revenue. there is not a revenue story. -- this is not a revenue story. it is a spending story. >> thank you, you are right sir, yet again.
the voluntary program is part of an effort to cut costs by 1.7 billion dollars per year. fedex stock, no change, 88 bucks a share. now joining the company from chicago is our next guest. the headline for the day is president obama has drawn a line in the sand, he says there isn't a deal on the fiscal cliff unless you raise tax rates on the rich, very important, tax rates on the rich. what do you make of that? >> well, first of all, in some ways, you have to say that the big spending, big...
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two wars and bush tax cuts. melissa: we afree on that. >> bush tax cuts. melissa: we have spent way too much. this plan doesn't basically reform entitlement spending. we don't get our spending, with any of these three plans. even going over the cliff we don't get the spending in order. i will give you the last word. then we go on. >> the issue with the republicans they're losing this. they're losing the argument, the debate, they're losing everything. what we need to do is, to respond to the question, what do we do now in three weeks? let's go ahead and give 98% of the american people a tax cut. none of us are ignoring the viability and importance of looking at entitlement reform as it relates to savings, getting rid of waste fraud and abuse and other aspects. i will not tolerate increase in eligibility or raising the age but what republicans are doing is, they are putting the issue on taxes and they're not telling the american people that the enlightment reform and tax reform is an issue or issues that can be discussed in 2013 in deliberative manner liste
two wars and bush tax cuts. melissa: we afree on that. >> bush tax cuts. melissa: we have spent way too much. this plan doesn't basically reform entitlement spending. we don't get our spending, with any of these three plans. even going over the cliff we don't get the spending in order. i will give you the last word. then we go on. >> the issue with the republicans they're losing this. they're losing the argument, the debate, they're losing everything. what we need to do is, to...
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darden restaurants down sharply after cutting profit fx for the year. the company is blaming failed promotions generated by its tests to limit health care costs for workers. to the road map this morning. president obama meeting with governors from around the country on capitol hill right now to discuss how to keep the economy growing. we'll talk to two former governors. jim gilmore of havevirginia, gr davis of california, about the states and what they need from the government and how states might be affected by the fiscal cliff. plus, gamestop revamping its shopping strategy. the new game plan and what it will mean for the bottom line. then a special dividend parade on wall street. while they're good for shareholders, those dividends might be even benter for company executives. just how much ceos are set to collect thanks to those divs. and ink magazine has named its top company of 2012. how the business rocked its way to the top. but we'll start in washington. the president meeting with six governors around the country to discuss the fiscal cliff. our
darden restaurants down sharply after cutting profit fx for the year. the company is blaming failed promotions generated by its tests to limit health care costs for workers. to the road map this morning. president obama meeting with governors from around the country on capitol hill right now to discuss how to keep the economy growing. we'll talk to two former governors. jim gilmore of havevirginia, gr davis of california, about the states and what they need from the government and how states...
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barack obama, as originally the grand bargain one and 0 billion in tax cuts. then he won the election. now he wants to increase it to over one half trillion. he has double down on all of these things. if you go back historically in this whole program, you might remember roy reagan, $3 in spending cuts for every dollar in new taxes. we get the taxes but ronald reagan never get the spending cuts. orge bush lost an ection in '92. he raised taxes on the democrats promised him $2 in spending cuts for every dollar in new taxes. george bush is still waitin for those $2 in spending cuts. now the present is saying to live in give you two and a half to one. it's time the democrats and the president stepped up and cut spding. gerri: to that point. want you to respond to what the white house had to say in response to the republicans offer and then go to michael's point about what you will actually get latr. here is what dan pfeiffer said. it promises to lower rates for the wealthy and stickhe middle-claas with the bill. we could do it pinocchio test. is that true or false
barack obama, as originally the grand bargain one and 0 billion in tax cuts. then he won the election. now he wants to increase it to over one half trillion. he has double down on all of these things. if you go back historically in this whole program, you might remember roy reagan, $3 in spending cuts for every dollar in new taxes. we get the taxes but ronald reagan never get the spending cuts. orge bush lost an ection in '92. he raised taxes on the democrats promised him $2 in spending cuts...
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ashley: president obama digging deeper on its fiscal cliff stopped earlier today saying we won't cut our way out of this deficit and it starts with raising tax rates on the wealthy but my next guest says this rhetoric could drive us right over that cliff. joining me now is douglas holtz-eakin, former director of the congressional budget office. and it -- you know your numbers, we know the fiscal cliff is going to have a huge impact if we go over it on this economy. before we get into the details are we in real danger of doing that? >> absolutely. this is an enormous heights in taxes, big cuts in spending, a hit to gdp that is 4% when we're growing and one.5, all the makings of a real problem and of fallout on consumer confidence will be severe. i think going over the cliff is unthinkable and something we should not contemplate. ashley: but the fundamental difference is the democrats say we have got to raise taxes on the top 2%. republicans putting forward their proposal saying revenue can be sorted through these deductions. is there any give? >> there has been some givee what they pu
ashley: president obama digging deeper on its fiscal cliff stopped earlier today saying we won't cut our way out of this deficit and it starts with raising tax rates on the wealthy but my next guest says this rhetoric could drive us right over that cliff. joining me now is douglas holtz-eakin, former director of the congressional budget office. and it -- you know your numbers, we know the fiscal cliff is going to have a huge impact if we go over it on this economy. before we get into the...
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you have not answered the question why obama -- why you are supporting obama's reckless spending. he refuses to cut spending, he refuses to reform entitlements. if he is it, we go back up -- >> sean has been -- let me say, i'm not supporting anybody's reckless spending. i want to make a note for the audience sean hannity has been an honest man. he said he condemned when the prescription drug benefit was pass bid republicans without funding. when we had two wars on the books without funding. so now you build up the terrific debt and you want to blame obama. how crazy is that? >> stop with the blame bush game, juan. >> no, no. >> i'm tired of it. >> the deficit under bush with two wars raging in 2007 was $161 billion. if we hadn't -- if bush hadn't done his prescription drug entitlement then it was much more -- >> juan, juan, we've got to go. >> republicans never said yes to continuous spinning and baling out wall street here. >> coming up -- thank you going. frightening youtube video you have to see to believe. anarchists calling for violence against american institutions and later
you have not answered the question why obama -- why you are supporting obama's reckless spending. he refuses to cut spending, he refuses to reform entitlements. if he is it, we go back up -- >> sean has been -- let me say, i'm not supporting anybody's reckless spending. i want to make a note for the audience sean hannity has been an honest man. he said he condemned when the prescription drug benefit was pass bid republicans without funding. when we had two wars on the books without...
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Dec 6, 2012
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conway distracts with negative ads to hide his support for obama care, which cuts medicare by $500 billion. >> that was 2010. fast forward to this year's election and the same principle carries through. each side tried to convince voters that the other guy wanted to take the hatchet to medicare. >> the biggest, coldest power play of all in obama care came at the expense of the elderly. $716 billion, funneled out of medicare by president obama >> my plan's already extended medicare by nearly a decade. their plan ends medicare as we know it. >> on medicare, for current retirees, he's cutting $716 billion from the program. i can't understand how you can cut medicare $716 billion for current recipients of medicare. >> look, these guys haven't been big on medicare from the beginning. their party's not big on medicare from the beginning. folks, use your common sense. who do you trust on this? >> so, now, of course, given all the campaign rhetoric coming from both sides, we are on the other side of an election that proved that there is a bipartisan consensus, that it is bad to be the kind of poli
conway distracts with negative ads to hide his support for obama care, which cuts medicare by $500 billion. >> that was 2010. fast forward to this year's election and the same principle carries through. each side tried to convince voters that the other guy wanted to take the hatchet to medicare. >> the biggest, coldest power play of all in obama care came at the expense of the elderly. $716 billion, funneled out of medicare by president obama >> my plan's already extended...
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obama irony, same people who claimed bush tax cuts are only for the rich now argue to keep them because they help the poor. and there is this one. my2k should really be somebody else's two k. they can government not to take their money and say take it from someone else. and then there is this one, y2k was caught by programmers failing to limit code 24 places. speed was caused by americans failing to limit obama to four years. back to you. melissa: thank you so much, thanks they want to tweet hash tag bad ideas. thank you, dennis. lori: what is going on? melissa: you haven't been shopping. lori: luxury jeweler not looking very pretty today. the trade at the nyse coming ahead. melissa: is andrew mason the right person to run it groupon? meeting on the troubled company's future. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. now is a good time to think about your options. are you lookin
obama irony, same people who claimed bush tax cuts are only for the rich now argue to keep them because they help the poor. and there is this one. my2k should really be somebody else's two k. they can government not to take their money and say take it from someone else. and then there is this one, y2k was caught by programmers failing to limit code 24 places. speed was caused by americans failing to limit obama to four years. back to you. melissa: thank you so much, thanks they want to tweet...
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you were there when i met obama and i told president obama you told us you were going to cut the red tape. i told him, the middle class is getting the royal finger. what did he said? fema works for me. they ain't doing nothing still going in a circle, denied, denied. >> sean: heartbreaking. what president obama, mayor bloomberg and governor cuomo run around patting each other on the back, these people are suffering, no one from the federal, state or local government seems to care. president obama showed a lot of concern for the victims before election day. where is the concern from the administration now? we continue with speaker gingrich. some people still don't have power. a lot of people lost their home, everything. so many people have been conditioned mr. speaker to put their faith, their hope, their trust in government. can we learn anything from here? >> you can learn two things. first of all, if the federal government can't do any better than this with sandy what is it going to do with obamacare? how comfortable are you that the same bureaucracy that can't deliver help in stat
you were there when i met obama and i told president obama you told us you were going to cut the red tape. i told him, the middle class is getting the royal finger. what did he said? fema works for me. they ain't doing nothing still going in a circle, denied, denied. >> sean: heartbreaking. what president obama, mayor bloomberg and governor cuomo run around patting each other on the back, these people are suffering, no one from the federal, state or local government seems to care....
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that is, th obama white house has made a rare mistake, miscalculation. they have incentivized republicans to say, you know, the heck with it. if you're not going to come to the table, we are not going to advance it. you have chosen and we have reached an agreement as to parties for squestration. we will go along with the tax cuts. that's your decision. sequestration was part -- we are partners on that deal. let her rip. they're going to get twice as much in the way of spendingcuts as an increase in taxes that way it's the best deal, and it's also oriented toward the republicans favored. >> the damage it will do to the economy. i don't think the president has a bigger role as he thinks he is. the house will be held by republicans for the foreseeable future, not just two years. midterm elections, six years, sterile for the president. the end of the day he wants a legacy. it's going to be the highest unemployment in history for two terms it is not careful. he will take us back into recession. if he wants serious negotiations that will sit down and come to s
that is, th obama white house has made a rare mistake, miscalculation. they have incentivized republicans to say, you know, the heck with it. if you're not going to come to the table, we are not going to advance it. you have chosen and we have reached an agreement as to parties for squestration. we will go along with the tax cuts. that's your decision. sequestration was part -- we are partners on that deal. let her rip. they're going to get twice as much in the way of spendingcuts as an...
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plus, about a trillion dollars in spending cuts. speaker john boehner said the president's plan just wouldn't pass. unfortunately, the white house responded with their la-la land offer that couldn't pass the house. so basically they are at odds. david, here's what i've got, here's my calculation, rough back of the envelope, okay? when i can find the envelope. okay? it is president obama wants 800 billion dollars more in tax revenue from the rich in the form of higher tax rates. the republicans want about a trillion dollars more in spending cuts. david: uh-huh. stuart: the two sides are those dollar numbers apart. and you say what? david: i say i don't think the president cares if it passes the house. because if it passes, he gets everything he wants. he doubled the amount of tax income he wanted from the private sector because he wants many r in his proposal. -- he wants more in his proposal. if it doesn't pass, he gets automatic tax increases from everybody, more government money from the private sector. he gets big cuts in the mil
plus, about a trillion dollars in spending cuts. speaker john boehner said the president's plan just wouldn't pass. unfortunately, the white house responded with their la-la land offer that couldn't pass the house. so basically they are at odds. david, here's what i've got, here's my calculation, rough back of the envelope, okay? when i can find the envelope. okay? it is president obama wants 800 billion dollars more in tax revenue from the rich in the form of higher tax rates. the republicans...
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speak of the american people want us to fight to cut spending. it is a fight we are happy to have. >> a house aide said president obama and house speaker john boehner spoke on3 the phone yesterday afternoon, their first conversation a week and since republicans offered $800 billion in new tax revenue and more than a trillion dollars in spending cuts, republicans say they're still waiting on a counter offer from the white house. lori: i wonder if they're talking football. >> it got messy. melissa: the house may be sending the members home t for e president seems to think if they got down to business, it is an easy fix. melissa: we can probably solve this in about a week. melissa: piece of cake. he thinks it is too late to get anything done before the end of the year as both sides are too far apart on key issues. joining us now, financial economist at jefferies. we think it is too late, we're going over the cliff. how come? >> not enough time to address all the issues that need to be addressed. especially they will talk o on a phone only once per w
speak of the american people want us to fight to cut spending. it is a fight we are happy to have. >> a house aide said president obama and house speaker john boehner spoke on3 the phone yesterday afternoon, their first conversation a week and since republicans offered $800 billion in new tax revenue and more than a trillion dollars in spending cuts, republicans say they're still waiting on a counter offer from the white house. lori: i wonder if they're talking football. >> it got...
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gladly agree to spending cuts later for tax increases now. republicans have been rolling over on these kinds of deals since as long as i've been able to remember. since i was in garanimals with reagan and tip o'neill and the democrats then were promising spending cuts that never came, through george bush and george mitchell who came away from a similar deal with a big smirk on his face and no spending cuts. i think it's about time republicans stop rolling over and falling for these deals. please, because why do we have a republican party if they don't say no? >> steve: sure. and we've been talking about how the atmosphere on capitol hill officially with the big negotiators has been kind of gloomy. politico, the lefty blog, says that inside the talks with the people who are doing a lot of talks, contours of a deal including the size of tax hikes and spending cuts, it will contain are starting to take shape. so it does sound like even though both sides are still strident in what they don't want to give up, sounds like behind the scenes they're
gladly agree to spending cuts later for tax increases now. republicans have been rolling over on these kinds of deals since as long as i've been able to remember. since i was in garanimals with reagan and tip o'neill and the democrats then were promising spending cuts that never came, through george bush and george mitchell who came away from a similar deal with a big smirk on his face and no spending cuts. i think it's about time republicans stop rolling over and falling for these deals....
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>> the danger is that obama overreaches maandate and misunderstands. four years ago he misread his mandate and he took a 70 perct approval rating and drove it down below 50 in a matter of months by spending too much money. he thought he was so popular he could do anything. lou: he did gain control of let's sixth of the economy with the obamacare committed to? i mean, he did pass some subset of regulation of our financial industry in this country. you're not exactly easg concerns, hearts are worried about what the republicans are going to be able to do. by te way, i want to make it very clear. a personho supports entirely the idea of low taxes and maintaining that posture and certainly ing so energetically if there is no quid pro quo, significant order in spending. but what in the world by these folks to do on capitol hill? >> here is my argument. the first thing the republicans need to do is insist that the negotiations be in front of c-span so that the american people can see what obama is and is not doing until that happens, obaa can keep misrepresen
>> the danger is that obama overreaches maandate and misunderstands. four years ago he misread his mandate and he took a 70 perct approval rating and drove it down below 50 in a matter of months by spending too much money. he thought he was so popular he could do anything. lou: he did gain control of let's sixth of the economy with the obamacare committed to? i mean, he did pass some subset of regulation of our financial industry in this country. you're not exactly easg concerns, hearts...
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liz: president obama met with ceos head of the looming deadline for tax cuts and spending cuts. david: a fiscal deal could be reached in a week. rich edson with the latest. it was an off the record meeting. this is a meeting that affects all of us. speak of the business roundtable says all the meetings are off the table and they have the initial remarks live and available to the press. in that the president did say we could settle this issue in a week if republicans relent on their position for taxes. offering $800 billion in tax revenue, coming from only closing loopholes and seductions, no to a tax rate increase for the president says it is making $250,000 or more, tax rates are going up. >> we will not raise them just out of spite, but rather because the need to raise a certain amount of revenue. >> the president doesn't agree with our proposal and our outline, think he has an obligation to send one to the congress. and a plan that could pass both chambers of commerce. if you look at the plans the white house has talked about thus far, they couldn't pass either house of the c
liz: president obama met with ceos head of the looming deadline for tax cuts and spending cuts. david: a fiscal deal could be reached in a week. rich edson with the latest. it was an off the record meeting. this is a meeting that affects all of us. speak of the business roundtable says all the meetings are off the table and they have the initial remarks live and available to the press. in that the president did say we could settle this issue in a week if republicans relent on their position for...
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they are not cutting anything. just slowing the growth. rebound and former president bill clinton hitting the links. this is a photo from last year. what we don't know what was said teen them this year my guest homes the former president was critiquing more than just his successor's swing. art laffer was the top reagan economic adviser and you voted twice for bill clinton because his prosecutor mix of taxes. explain that? >>guest: yes i sure did. but for the raise hikes at top end, he cut taxes on the working people between ages of 65 and 72. he cut taxes on trade and products. he cut government spending as a share g.d.p. dramatically and he cut the capital gains tax rate and butt in welfare reform. what do you want from a president that bill clinton did not deliver? he was a great president. >>neil: the investment taxes was that concurrent with what was going on in the income tax hike front? >>guest: no. it was not. the capital gains tax reduction which he dropped the high of the race from 28 percent to 20 percent but what he really did t
they are not cutting anything. just slowing the growth. rebound and former president bill clinton hitting the links. this is a photo from last year. what we don't know what was said teen them this year my guest homes the former president was critiquing more than just his successor's swing. art laffer was the top reagan economic adviser and you voted twice for bill clinton because his prosecutor mix of taxes. explain that? >>guest: yes i sure did. but for the raise hikes at top end, he cut...
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nobody is saying cut the size and scope of the government. >> that's right. president obama for at least two years now, maybe longer, has always been talking about a balanced approach to t deficit. when he talks about balanced approach, he means tax revenue and cutting spending, however the only part of the conversation we're having is about tax revenue. no conversation whatsoever about the spending part of this equation. that's because he has no intention of cutting spending. >> sean: senator chambliss is clear, it's increasing revenue, getting more money from the american taxpayer. isn't that a tax? >> yes. what they fail to see or don't want to see or acknowledge this country doesn't have a revenue problem. there's plenty of revenue coming into the treasury. remember the "t" in tea party stands for tax enough already. we have a severe spending problem. before barack obama became president, sean, federal government spending was about 18%, 19% of gdp. barack obama and the democrats have pushed it up to 24% to 25%. >> we're talking about spending more money t
nobody is saying cut the size and scope of the government. >> that's right. president obama for at least two years now, maybe longer, has always been talking about a balanced approach to t deficit. when he talks about balanced approach, he means tax revenue and cutting spending, however the only part of the conversation we're having is about tax revenue. no conversation whatsoever about the spending part of this equation. that's because he has no intention of cutting spending. >>...
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we cut the number of people on welfare down from about five million to three million. then obama comes in and, so he reinstates it and takes the work requirements out and now people are outraged because we have these people on food stamp. melissa: stop this one next. this one is absolutely insane. thank you so much for coming on tonight. we appreciate your time. >> you bet. melissa: time for today's fuel gauge report. freshwater forecasts expected decline in inventories sent natural gas stocks soaring. a cold front expected to move into the u.s. raising the outlook for natural gas demand. oh, no. >>> freeport-mcmoran is plunging head first into oil. the mining giant is buying plains exploration and mcmoran exploration for a total of $9 billion in cash and stock. freeport will also assume about $11 billion in debt. >>> u.s. oil production reached its highest level in almost 15 years in september. new data from the energy information administration says u.s. crude output averaged 6.5 million barrels a day. that is up 16% year-over-year. thank you shale and fracking. >>>
we cut the number of people on welfare down from about five million to three million. then obama comes in and, so he reinstates it and takes the work requirements out and now people are outraged because we have these people on food stamp. melissa: stop this one next. this one is absolutely insane. thank you so much for coming on tonight. we appreciate your time. >> you bet. melissa: time for today's fuel gauge report. freshwater forecasts expected decline in inventories sent natural gas...
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that is what we are talking about. >> what is broken is taxes and the dead and spending cuts. if the president were honest and in good faith, he wouldn't be needing with a roundtable. he would be up to capitol hill. as president is not serious. >> the other thing about the debt limit is not an authorization to go into as much does he want for five years or whatever. it is a set dollar amount. how much? lou: based on past five years of the bush administration, i can assure you that it wilbe a staggering figure. especially since we have a president who is inclined to spend like hell. i don't think there's any doubt about that. the president today is absolutely indulging in class warfare. >> i cannot ask folks who are middle-class seniors on medicare and young people who are trying to get student loans for college -- i can't ask them to sacrifice. and not ask anything of higher income folks. lou: what are your thoughts? >> i love the word ask her if is that this is a chervil contribution as opposed to money being taken forcibly. second, what's he asking anyone to sacrifice other
that is what we are talking about. >> what is broken is taxes and the dead and spending cuts. if the president were honest and in good faith, he wouldn't be needing with a roundtable. he would be up to capitol hill. as president is not serious. >> the other thing about the debt limit is not an authorization to go into as much does he want for five years or whatever. it is a set dollar amount. how much? lou: based on past five years of the bush administration, i can assure you that...
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obama you should be rooting for this. that means less attractive for thoscompanyo do over there and stay here. u.k. prospects should be subject to u.k. corporate tax. neil: should you pair spending in other areas to adjust. >> spending is very much down in the u.k. that is the problem, that is the argument shared sacrifice. neil: what about the princess? >> i told jonathan hunt last week that i thought kat middleton is pregnant, i am pleased to be right. neil: she has very bad morning sickness. >> which is why it was revled early, it was revead 12 weeks, it is to be expected. the role of the roll wife to provide an heir and a spare immediately. neil: dogs teach a lesson about living, they don't know the future, they have forgotten the pass, they are tree t free to ls straight in the eye, but is that any reason to bring them to work? former "seinfeld" star's choice ♪ [ engine revs ] ♪ ♪ [ male announcer ] the meedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list yo
obama you should be rooting for this. that means less attractive for thoscompanyo do over there and stay here. u.k. prospects should be subject to u.k. corporate tax. neil: should you pair spending in other areas to adjust. >> spending is very much down in the u.k. that is the problem, that is the argument shared sacrifice. neil: what about the princess? >> i told jonathan hunt last week that i thought kat middleton is pregnant, i am pleased to be right. neil: she has very bad...
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Dec 5, 2012
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they want, the trillion dollars in spending cuts president obama agreed to, hundreds of billions in additional cuts, ending the payroll tax break, ending jobless benefits and they get the opportunity to create a new debt ceiling crisis in a few months. that's on the republican side, what the republicans get in their proposal. what do the democrats get in their proposal? they get this. a promise to end undefined tax deductions and loopholes of some kind at some point maybe next year. ta da! a fair and balanced middle ground. >> unfortunately, the speaker's proposal right now is still out of balance. >> yes. balance. here's the amazing part, though. after congressional republicans released their plan yesterday, which gives them everything they want and promises democrats that they might get something undefined that they might want maybe some time in the future. we'll talk about it later. after they put forth that sweet deal, this was the reaction from the beltway's conservative class. this is genius. sadly, this plan leaves conservatives wanting. wanting what exactly? the declaration
they want, the trillion dollars in spending cuts president obama agreed to, hundreds of billions in additional cuts, ending the payroll tax break, ending jobless benefits and they get the opportunity to create a new debt ceiling crisis in a few months. that's on the republican side, what the republicans get in their proposal. what do the democrats get in their proposal? they get this. a promise to end undefined tax deductions and loopholes of some kind at some point maybe next year. ta da! a...
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obama is not a businessman. he is an idea log. i think by him doing something to reach out to mitt romney other than a turkey chili lunch, whatever. neil: they had cold cuts. >> and cold cuts. >> i'm thinking like salmon or something elegant, are you going to eat that. >> yeah, look at my office that you do not get, and how about a coil cut. neil: did you see that? like, looky there what do you think of the color scheme, not up to you. >> track records speak for themselves, mitt romney has a track record of great things. neil: look at, that. >> in oval offers. >> romney just within inches of the desk. >> when i worked for giuliani, romney was running, he has been running for a long time. neil: do you think he runs again. >> i do not. neil: who do the think? >> 2016 rubio, and chris christie, a lot of people that a lot of big donors begged to run. neil: tom you are runni? >> not yet. >> talk to me. >> when he come back, we have a ton of twitter followers, count john mccain, as one of them. we'lhe tweeted at me about me tt we'lhe tw
obama is not a businessman. he is an idea log. i think by him doing something to reach out to mitt romney other than a turkey chili lunch, whatever. neil: they had cold cuts. >> and cold cuts. >> i'm thinking like salmon or something elegant, are you going to eat that. >> yeah, look at my office that you do not get, and how about a coil cut. neil: did you see that? like, looky there what do you think of the color scheme, not up to you. >> track records speak for...
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the republican house leader wants $2.2 trillion in spending cuts. and how would he do it? republicans refuse to raise taxes on the rich. unbelievable. instead, they want to slash billions from health care, raise the medicare eligibility age and hack away billions from entitlement programs. these are their great compromises? doesn't seem like they've learned much from the election, which they lost. joining me now is senator bernie sanders, independent from vermont. senator, thank you for being here tonight. >> my pleasure. >> what's your reaction to the republican counteroffer? >> not only is what they are absurding absurd, i think they are crazy politically. i think when the people understand that they want to maintain tax breaks for millionaires and billionaires, whose effective tax rate is very, very low and at the same time they want to balance the budget by cutting social security, medicare, and medicaid, i think people all over this country are going to say, you guys are nuts. you're really out of touch with what ordinary americans are thinking and believing. >> now,
the republican house leader wants $2.2 trillion in spending cuts. and how would he do it? republicans refuse to raise taxes on the rich. unbelievable. instead, they want to slash billions from health care, raise the medicare eligibility age and hack away billions from entitlement programs. these are their great compromises? doesn't seem like they've learned much from the election, which they lost. joining me now is senator bernie sanders, independent from vermont. senator, thank you for being...